Flaw in en-bloc mediation process

[mr funny]

http://www.straitstimes.com/ST%2BFor...ry_230120.html

April 23, 2008

Flaw in en-bloc mediation process


IN A collective property sale, minority objectors create uncertainty, resulting in hardship for the 80 per cent majority owners, as follows:

# They cannot commit to a new home and property prices may rise against them;

# They may commit to a new home but are unable to get the sales proceeds to pay for the new property;

# They lose interest on the sales proceeds (which may be a substantial amount) while the minority holds out; and

# They are unable to rent at market rates because of the long sale process.

To add insult to injury, under the mediation process, minority objectors are legally allowed to negotiate with buyers for higher compensation, which can run into millions of dollars.

When successful, such payments to minority objectors are kept 'strictly confidential'.

As the law should be equal for all Singaporeans, the authorities should remove this legal loophole by abolishing the mediation process. Objectors should object on the grounds of whether the sale process is fair, transparent and handled in good faith. There must be transparency in the legal system.

Ong Boot Lian (Mdm)

'I think 99 per cent, as she suggested, is too high. Perhaps 90 per cent is more reasonable.'
MR WILLIAM TAY, responding to Ms Susan Prior's suggestion to increase the percentage required before a collective property sale can be approved. The current rate is 80 per cent

[Pink4]

Revert to 100% consent. There will be no minority, only majority. How nice. Better still, no to enblocs. Sell only when one feels right, proper and ready.

[Tony Blair]

Enbloc is itself a flaw.Always 2 sides to a coin.

[Norman]

mdm Ong must be from Regent Garden becos dat's the only place with high compensation for minority owners, running into millions.

another jealous owner who can't accept that they got less!

[Fred]

Wah! Millions ?!
You sound like the Minority. Congratulations , man! Teach the enbloc raiders a lesson.

Fred

[James Tan]

mdm Ong must be from Regent Garden becos dat's the only place with high compensation for minority owners, running into millions.

another jealous owner who can't accept that they got less!

Norman, I have been suspecting that you are either one of the minorities or related to one of the six minorities at Regent Garden, and the above last sentence nailed you in.

I do not know if Mdm Ong is from Regent Garden, but your incessant attack on the majorities of Regent Garden leaked out your identity because there are 6 minorities in RG and when they shared about $2.0m (according to court papers), each unit gets less than $400k, not millions.

There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.

[Norman]

Norman, I have been suspecting that you are either one of the minorities or related to one of the six minorities at Regent Garden, and the above last sentence nailed you in.

I do not know if Mdm Ong is from Regent Garden, but your incessant attack on the majorities of Regent Garden leaked out your identity because there are 6 minorities in RG and when they shared about $2.0m (according to court papers), each unit gets less than $400k, not millions.

There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.

no leh. if i minority and getting $400k, i won't be taxi driver like u. after all, u and i both passion about an estate we dun live in wat!

eh.. i thot u said undisclosed amount for RG mnorities? how come now you know only $2m?

[Norman]

There are many, many other cases of minorities getting up to half a million each in other estates. Either you do not know, or pretend not to know because you developed a passion for attacking the majority owners, especially Regent Garden.

what many many estate r u tokking abt, with half a million profit for minorities?

i believe most estate if minorities kana such bribery, will be no objection in STB correct? i also believe many many estate now got objection in STB.

of cos if u tokking abt financial loss, r u saying minorities no longer entitle to money they entitle to legally?

so which many many estate?

[James Tan]

what many many estate r u tokking abt, with half a million profit for minorities?

i believe most estate if minorities kana such bribery, will be no objection in STB correct? i also believe many many estate now got objection in STB.

of cos if u tokking abt financial loss, r u saying minorities no longer entitle to money they entitle to legally?

so which many many estate?

Wrong, vari, vari wrong. You MUST first object, then can be offered extra moni. No object, no coffee moni, understand?

find out uself lah, u soo smart know Mdm Ong from Regent Garland ass u claimed earlier, so u should know everything under the moon, dont u?

hey, u claimed 2 B taxi diver, how cum soo much hour surfing like u got nuting 2 do? No passenger 4 u, lah, bcos no more en bloc profits 2 take taxi? NO RightMAN

[James Tan]

no leh. if i minority and getting $400k, i won't be taxi driver like u. after all, u and i both passion about an estate we dun live in wat!

eh.. i thot u said undisclosed amount for RG mnorities? how come now you know only $2m?

U r the only 1 passion about Regent Garden. In other threads not relating to RG, you got so worked up when some 1 simply mentioned the name.

In this thread, the moderator just published one letter from Forum without mentioning the name of any estate, and YOU JUMP, JUMP, JUMP and JUMP , so cocksure that Mdm Ong MUST BE FROM REGENT GARDEN, and only you so ccocksure, no other reader knows anything.

Fred said millions, and u said running into millions. You started with millions, so I simply joined you with the minimum of millions -- two, can't be one, not likely to be 3, 4 or 5 bcos developer refused to pay $39.7m., forced sale at $34.0m. Divided the difference of $5.7 m. by two (share between developer and 6 minorities) it would be about $2.8m. for each side, but developer pays expensive legal fees, so round down to $2.0m. since cannot be $3.0m.

So simple arithmatic even kindergarten kids can do and you cannot add 2 plus 2?

[Norman]

Wrong, vari, vari wrong. You MUST first object, then can be offered extra moni. No object, no coffee moni, understand?

find out uself lah, u soo smart know Mdm Ong from Regent Garland ass u claimed earlier, so u should know everything under the moon, dont u?

hey, u claimed 2 B taxi diver, how cum soo much hour surfing like u got nuting 2 do? No passenger 4 u, lah, bcos no more en bloc profits 2 take taxi? NO RightMAN

u never complete sentence.. object, offer extra 'moni' (u spell like worse than my kid), then WITHDRAW objection. CORRECT? So how come your many many estate still objecting all the way to court??

i ask, and u yet to answer - which many many estate?

i make it easy for you - just name 10 (not many many) estate now withdraw their objection in the last 2 years ok?

and i not as free as you - 30+ posts oredi, compare to me. sorry but u more free time than me hor.

[Norman]

U r the only 1 passion about Regent Garden. In other threads not relating to RG, you got so worked up when some 1 simply mentioned the name.

In this thread, the moderator just published one letter from Forum without mentioning the name of any estate, and YOU JUMP, JUMP, JUMP and JUMP , so cocksure that Mdm Ong MUST BE FROM REGENT GARDEN, and only you so ccocksure, no other reader knows anything.

Fred said millions, and u said running into millions. You started with millions, so I simply joined you with the minimum of millions -- two, can't be one, not likely to be 3, 4 or 5 bcos developer refused to pay $39.7m., forced sale at $34.0m. Divided the difference of $5.7 m. by two (share between developer and 6 minorities) it would be about $2.8m. for each side, but developer pays expensive legal fees, so round down to $2.0m. since cannot be $3.0m.

So simple arithmatic even kindergarten kids can do and you cannot add 2 plus 2?

eh how come ur english from powderful to tokking cock this cock that? showing ur true color?

and please check hor.. its ur kaki mdm ong that say run into millions, not me. u oso say many many objector get half a million so i ask you, just name me 10 estate that object, got coffee moni, and withdraw their objection, never go near high court. since u got so much free time to go to court for RG, can simply get evidence for the 10 estate right?

and sorri i obviously dun live in ur RG estate ok. i dun know the facts as well as a majority owner like u do hor.

[James Tan]

eh how come ur english from powderful to tokking cock this cock that? showing ur true color?

and please check hor.. its ur kaki mdm ong that say run into millions, not me. u oso say many many objector get half a million so i ask you, just name me 10 estate that object, got coffee moni, and withdraw their objection, never go near high court. since u got so much free time to go to court for RG, can simply get evidence for the 10 estate right?

and sorri i obviously dun live in ur RG estate ok. i dun know the facts as well as a majority owner like u do hor.

BECAUSE YOU CANNOT UNDERSTAND GOOD ENGLISH AND KEPT ON TALKING COCK YOURSELF.

I don't like to stoop so low like you and dirty this thread which is meant for readers to be informed of en bloc issues. It is you who first alleged that Mdm Ong to be a majority owner of Regent Garden without any proof.

You are really very low class, kept on talking cock and making baseless allegations. First, you claimed Mdm Ong to be a majority owner of RG, now you alleged that I go to court for RG. Don't you have some respect for yourself talking cock the whole day and day after da?

Prove to all readers that Mdm Ong is a majority owner of RG as you alleged, and I will provide you not only 10, but more where minority owners object, case went to STB, then got paid quietly (note quietly, not like RG's case which is openly).

Don't waste my time talking cock and valuable space on this thread; I will not entertain you any further unless you can prove that Mdm Ong is a majority owner of Regent Garden. I bet you have nothing to do, so trying to irritate someone for your madness

[Norman]

Prove to all readers that Mdm Ong is a majority owner of RG as you alleged, and I will provide you not only 10, but more where minority owners object, case went to STB, then got paid quietly (note quietly, not like RG's case which is openly).

Don't waste my time talking cock and valuable space on this thread; I will not entertain you any further unless you can prove that Mdm Ong is a majority owner of Regent Garden. I bet you have nothing to do, so trying to irritate someone for your madness

oi i asked u first, so dun give me this prove first or i wun prove. u think wat, this is kindergarden ah? if u cannot prove then obviously u are dishonest and cannot be trusted, no matter how powderful ur english is.

its very simple i asked u twice oredi - which many many estate? so now third time and still no response. so who is baseless here?

no one ask u to waste valuable space. u obviously got time to dig into RG estate which u say not urs so simple question again - which many many estate. and we not tokking financial loss hor.. but kopi money as u claim.